This Systematic County Diagnostics is organized into six parts. The first part presents a brief overview of the country’s recent socio-political and economic context.
... See More + The second part examines the links between poverty, income distribution and economic growth, through the labor market, against the background of large changes in international capital flows and the unfinished structural reform agenda. The third part, examines the sustainability and vulnerability of the current growth model. The fourth part examines the structural constraints to sustainable and inclusive growth and poverty reduction, while the fifth part reviews the governance and the rule of law foundations. The assessment of each constraint is followed by a description of what the Government of Montenegro (GoM) is doing to address the issue. The sixth part examines priorities and opportunities.
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This Systematic County Diagnostics is organized into six parts. The first part presents a brief overview of the country’s recent socio-political and economic context.
... See More + The second part examines the links between poverty, income distribution and economic growth, through the labor market, against the background of large changes in international capital flows and the unfinished structural reform agenda. The third part, examines the sustainability and vulnerability of the current growth model. The fourth part examines the structural constraints to sustainable and inclusive growth and poverty reduction, while the fifth part reviews the governance and the rule of law foundations. The assessment of each constraint is followed by a description of what the Government of Montenegro (GoM) is doing to address the issue. The sixth part examines priorities and opportunities.
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The World Bank prepared this policy note at the request of the Montenegrin Ministry of Finance (MoF) to formulate a diagnostic of the current situation of local self-governments in Montenegro - with a special focus on municipalities undergoing financial distress - and propose directions for policy and reform aimed at restoring fiscal sustainability and improving spending efficiency.
... See More + The policy note intends to inform authorities on options to strengthen the financial stance of subnational entities, with special emphasis on distressed ones. the policy note focused on three aspects of local finances: (i) budget revenue sources and their adequacy to fund mandates and tasks; (ii) budget expenditures and employment in administration and municipal public companies; and (iii) budget-deficit financing using municipal debt, including bank loans for investment projects, bank loans for liquidity shortages, and arrears on salaries, taxes, and contributions due by municipalities as employers of public servants.
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